Moran Wealth Management LLC Cuts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Moran Wealth Management LLC trimmed its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,634 shares of the real estate investment trust’s stock after selling 393 shares during the quarter. Moran Wealth Management LLC’s holdings in AvalonBay Communities were worth $24,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Intech Investment Management LLC purchased a new position in AvalonBay Communities during the first quarter valued at $293,000. Acadian Asset Management LLC purchased a new position in AvalonBay Communities in the 1st quarter valued at about $95,000. O Shaughnessy Asset Management LLC boosted its holdings in AvalonBay Communities by 51.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,476 shares of the real estate investment trust’s stock worth $831,000 after buying an additional 1,523 shares during the last quarter. Bessemer Group Inc. increased its stake in AvalonBay Communities by 52.0% during the 1st quarter. Bessemer Group Inc. now owns 1,595 shares of the real estate investment trust’s stock worth $296,000 after buying an additional 546 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in shares of AvalonBay Communities by 9.2% during the first quarter. Vident Advisory LLC now owns 32,132 shares of the real estate investment trust’s stock valued at $5,962,000 after acquiring an additional 2,699 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 0.7 %

Shares of AVB stock traded down $1.60 on Wednesday, hitting $227.78. The stock had a trading volume of 33,170 shares, compared to its average volume of 721,441. The company’s 50 day moving average price is $226.46 and its 200-day moving average price is $213.28. AvalonBay Communities, Inc. has a 1 year low of $169.37 and a 1 year high of $236.26. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $32.40 billion, a P/E ratio of 31.38, a P/E/G ratio of 3.35 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the prior year, the firm earned $2.66 earnings per share. Analysts anticipate that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.99%. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the sale, the director now owns 111,436 shares of the company’s stock, valued at $26,051,508.08. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft boosted their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. BNP Paribas started coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $226.88.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.